Gold rose in spot transactions 0.2 percent to $2,658.07 per ounce by 1130 GMT. US gold futures increased 0.4 percent at $2,677.90.
Ricardo Evangelista, chief analyst at Active Trades, told Reuters: “Gold prices are caught in a strong struggle between the rise of the dollar and the continued demand for safe havens, which will likely keep them near current levels. The upcoming US economic data may be decisive to break this stalemate.”
The market is now awaiting the minutes of the latest Federal Reserve monetary policy meeting and index data Consumer prices And the producers in US Scheduled for release this week.
Carlo Alberto De Casa, financial market analyst at Kinesis, said: “The CPI data scheduled for release this week is important to predict what the Federal Reserve will do, but I do not imagine a surprise because the market already expects almost 100 percent that the Fed will (cut) the interest rate by 25 basis points.” only”.
Traders now see a 95 percent probability that the US Federal Reserve will cut interest rates by just a quarter of a percentage point next month, after Friday’s jobs report indicated the strength of the US economy, which will likely prompt the Federal Reserve not to make major interest rate cuts until the end of this year. General.
Israel intensified its air and ground attack on Gaza by launching more attacks on Hamas fighters and its leadership centers on Monday, when both sides commemorate the first anniversary of the war that destroyed vast areas of the Strip. Israel is also intensifying its attacks on Hezbollah group sites in Lebanon.
As for other precious metals, silver fell in spot transactions 0.6 percent to $31.98, platinum lost 0.4 percent to $986.15, while palladium rose 0.9 percent to $1,020.78.
